Falcon Acquires Valentine Gold South Project Contiguous to Matador, Along Strike of the Valentine Gold Deposit

Falcon Acquires Valentine Gold South Project Contiguous to Matador, Along Strike of the Valentine Gold Deposit

VANCOUVER, BC / ACCESSWIRE/ March 10, 2022 / Falcon Gold Corp. (TSXV:FG)(FRA:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is delighted to announce it has acquired, via staking, a very large and strategically located land position in the Valentine Lake South Area. This new land position consisting of 605 claims (15,300 hectares) is contiguous to Marvel Discovery Corp, Matador Mining, and Tru Precious Metals Corp (TRU). The Property also lies along strike from the Valentine gold deposit which hosts 6.8 million ounces of gold (Moz. Au) (all categories) and is now under development (https://marathon-gold.com/valentine-gold-project/). Falcon has immediate plans to commence high resolution magnetic surveys upon approval of exploration permits.

During 2021, 22 holes were drilled by TRU on their Golden Rose Project, contiguous to the Valentine Gold South Project, and assay results are just now being released. The first release of results includes 12 metres (m) grading 1.01 grams per tonne (g/t) Au from drill hole WL-21-12 and 7 m grading 1.71 g/t Au from drill hole WL-21-06, including 2.39 g/t Au over 4m (https://www.trupreciousmetals.com/news/tru-precious-metals-continues-to-intersect-gold-in-new-drill-results-from-golden-rose-project)

Figure 1. Regional location of Falcon's Valentine Lake South Gold property.

Falcon's Chief Executive Officer, Karim Rayani commented, "This is an impressive land position along the Valentine structural corridor. Our in-house studies have concluded that these crustal scale deformation zones host Newfoundland's larger gold deposits. They commonly have second- to third-order structural components much like the gold deposits along the Cadillac-Larder Lake and Destor-Porcupine fault zones of the Abitibi Subprovince of Ontario and Quebec. With Marathon & Matador as neighbours, we are ideally situated between two of the most significant gold deposits in Newfoundland. Our next steps are to run a high-resolution magnetic survey which will help map this large territory with braided shear zones which lie proximal to these major fault zones."

Valentine South Property

Structurally controlled orogenic gold deposits in Newfoundland are associated with crustal-scale fault zones within the Central Newfoundland gold belt. These major fault zones include the Baie Verte-Brompton Line, the Cape Ray Fault Zone, the Red Indian Line, and the Victoria Lake Shear Zone (Figure 2). The largest known gold deposit in Newfoundland occurs at Valentine Lake (Marathon Gold Corp,) in the footwall of the Victoria Lake Shear Zone. To date the Marathon Gold has discovered five (5) deposits along a 20km trend and together these represent the largest undeveloped resources in Atlantic Canada with reserves and resources of 6.8 Moz. Au. Also notable with the area is the Matador Mining Cape Ray deposit which hosts 837,000 oz. of Au (https://matadormining.com.au/cape-ray/). The newly acquired claims lie within the Valentine Lake Structural Corridor and in an area of very little historical exploration. Recent structural interpretations of regional scale geophysical surveys led Falcon Gold to the staking of this large land package due numerous interpreted parallel trends and tertiary splay zones which are considered highly prospective for gold mineralization.

Figure 2.Falcon Gold's Valentine South property location along the Valentine structural corridor.

Qualified Person

Mr. Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.

The QP has not completed sufficient work to verify the historic information on the properties comprising the Valentine South property, particularly regarding historical exploration, neighboring companies, and government geological work. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Falcon Gold Corp.

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.

The Company holds 8 additional projects. The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina. The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.

CONTACT INFORMATION:

Falcon Gold Corp.
"Karim Rayani"

Karim Rayani
Chief Executive Officer, Director
Telephone: (604) 716-0551
Email: info@falcongold.ca

Cautionary Language and Forward-Looking Statements

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE:Falcon Gold Corp



View source version on accesswire.com:
https://www.accesswire.com/692443/Falcon-Acquires-Valentine-Gold-South-Project-Contiguous-to-Matador-Along-Strike-of-the-Valentine-Gold-Deposit

News Provided by ACCESSWIRE via QuoteMedia

FG:CC
Falcon Gold

Falcon Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Falcon Gold (TSXV:FG)

Falcon Gold


Keep reading...Show less
Falcon Hires Centreline for Great Burnt Drilling

Falcon Hires Centreline for Great Burnt Drilling

Falcon Gold Corp. (FG:TSXV)(3FA:GR)(FGLDF:OTCQB); ("Falcon" or the "Company") is pleased to announce that the Company has awarded a drilling contract to CentreLine Drilling of Newfoundland to conduct a diamond drilling program at its 100% owned Great Burnt Copper Project in Central Newfoundland. The Company initially plans to test up to ten geophysical anomalies with a maximum of 1100 metres of drilling. Falcon will provide further guidance on an estimated drill start date once logistics for the program are determined and remaining service providers are confirmed

Falcon holds 2,275 hectares in the Great Burnt camp, with licenses located north of, and contiguous to, Benton Resources Inc. - Spruce Ridge Resources Ltd. Great Burnt Copper-Gold joint venture (see Figure 1). Benton Resources Inc. ("Benton") recently optioned the Great Burnt Copper-Gold Project from Spruce Ridge Resources Ltd. ("Spruce Ridge") in an agreement that allows Benton to earn a 70% interest in the property (see press release dated August 17, 2023). The Benton-Spruce Ridge property is host to the Great Burnt Copper Zone, a deposit with an indicated resource of 381,300 tonnes at 2.68% Cu and inferred resources of 663,100 tonnes at 2.10% Cu (https://www.spruceridgeresources.com/great-burnt.php). Recent drilling by Benton at the Great Burnt Copper Deposit reported drill results that returned 7.20% Cu, 7.12 g/t Ag, and 0.05% Co over 12.30 metres (see press release dated December 5, 2023). Previous drilling in 2020 by Spruce Ridge reported 8.06% Cu over 27.2 m (TSXV: SHL press release dated March 18, 2021). The Great Burnt Greenstone Belt is prospective for copper and gold, and further hosts the South Pond A and South Pond B copper-gold zones, and the End Zone copper prospect along a 14 km mineralized corridor. The mineralized corridor occurs along a conductive trend, and this conductive trend continues into Falcon's Great Burnt Copper Property (see right-hand-side image in Figure 2). The presence of mineral occurrences within ground adjacent to Falcon's Great Burnt Copper Property cannot be used as an indication of mineralization within Falcon's property itself.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CORRECTION BY SOURCE: Falcon Receives Drill Permit Approval at Great Burnt Copper Project Adjacent to Benton, Central Newfoundland

CORRECTION BY SOURCE: Falcon Receives Drill Permit Approval at Great Burnt Copper Project Adjacent to Benton, Central Newfoundland

The release issued this morning has been corrected and replaced due to an update.

Falcon Gold Corp. (TSX-V:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce that the Company has received drill permit approval to conduct a diamond drilling program at its Great Burnt Copper Project in central Newfoundland. The Company initially plans to test up to ten geophysical anomalies with a maximum of 1100 metres of drilling. The Company will provide further guidance on an estimated drill start date once logistics for the program are determined and service providers are confirmed

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon Recieves Drill Permit Approval at Great Burnt Copper Project Adjacent to Benton, Central Newfoundland

Falcon Recieves Drill Permit Approval at Great Burnt Copper Project Adjacent to Benton, Central Newfoundland

Falcon Gold Corp. (FG:TSX-V)(3FA:GR)(FGLDF:OTCQB); ("Falcon" or the "Company") is pleased to announce the company has received drill permit approval to commence diamond drilling at its Great Burnt Copper Project in Central Newfoundland. The Company will be reporting back in the coming week once drill contractors have been finalized. Falcon initially plans to test up to 10 geophysical anomalies with a maximum of 1100 meters of drilling

Falcon holds 2,275 hectares in the Great Burnt Camp, with licenses located north of, and contiguous to the Benton-Spruce Ridge Great Burnt Copper-Gold joint venture (see Figure 1). Benton Resources Inc. recently optioned the Great Burnt Copper Gold Project from Spruce Ridge Resources Ltd. In an agreement that allows Benton to earn a 70% interest in the property (press release dated August 17, 2023). The Benton-Spruce Ridge property is host to the Great Burnt Copper Zone, a deposit with an indicated resource of 381,300 tonnes at 2.68% Cu and inferred resources of 663,100 tonnes at 2.10% Cu. (https://www.spruceridgeresources.com/great-burnt.php). Recent drilling by Benton Resources Inc. over the Great Burnt Copper Deposit reported drill results that returned 7.20% Cu, 7.12 g/t Ag and 0.05% Co over 12.30 meters (press release dated December 5, 2023). Previous drilling in 2020 by Spruce Ridge Resources reported 8.06% Cu over 27.2m (TSXV: SHL press release dated March 18, 2021). The Great Burnt greenstone belt is prospective for copper and gold, and further hosts the South Pond A and South Pond B copper-gold zones, and the End Zone copper prospect along a 14 km mineralized corridor. The mineralized corridor occurs along a conductive trend, and this conductive trend continues into Falcon's Great Burnt Copper Property (see Figure 2).

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon Gold Engages CHF Capital Markets

Falcon Gold Engages CHF Capital Markets

Falcon Gold Corp. (FG:TSX-V)(3FA:GR)(FGLDF:OTCQB); ("Falcon" or the "Company") is pleased to announce that it has retained the services of CHF Capital Markets Inc. ("CHF"), a highly respected Canadian investor relations and capital markets firm, as its representative and to provide capital markets services effective immediately

CHF Capital Markets Inc. (www.chfcapital.com) is a Toronto-based firm specializing in Investor Relations. With more than 139 years of collective IR and Capital Markets experience, CHF has been a trusted partner for many public companies in Canada and worldwide, operating in a broad range of industries, including Mining, Oil & Gas, AI Technology, Fintech, Healthcare, Biopharmaceuticals, Cannabis, and Special Situations. Its team consists of a diverse pool of talent that combines analytical and creative skills - high-profile communications and investment industry specialists, and digital media experts.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Falcon's CEO Issues Corporate Update Letter To Shareholders

Falcon's CEO Issues Corporate Update Letter To Shareholders

Falcon Gold Corp. (TSX-V:FG)(FSE:3FA)(OTCQB:FGLDF) (the "Company") is pleased to report a corporate update letter in an address to shareholders from its Chief Executive Officer Karim Rayani

Dear Shareholders,

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
True North Copper

TNC Operational Update - Cloncurry Copper Project’s Mining Restart

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to provide an operational update on the mining restart at its 100% owned Cloncurry Copper Project (CCP).

Keep reading...Show less
Copper ore in foreground, with world map showing countries in copper on black background.

Copper Reserves: Top 5 Countries (Updated 2024)

Copper has become a hot topic due to its role in the green energy transition and its necessity for urbanization. However, the lack of incoming supply in the long term has experts concerned.

The term “peak copper” was coined because some experts believe that copper reserves may be diminishing; as a result, it’s prudent to know the top copper reserves by country when considering investing in the mining industry.

The Copper Development Association pegs current known worldwide copper ore resources at nearly 5.8 trillion pounds, of which only about 0.7 trillion pounds, or 12 percent, have been mined throughout history. Plus, nearly all of that mined copper is still in circulation, as the red metal’s recycling rate is higher than that of any other engineering metal.

Keep reading...Show less
Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces it has commenced mobilization of its camp, fuel, equipment and second drill to its camp location on the Aberdeen Uranium Project, located adjacent to Orano's 133 million pound Kiggavik uranium deposit in the Thelon Basin, Nunavut. Forum plans a 10,000 metre drill program just two months away in June to follow-up on its successful drill program in 2023. Four drill holes into the Tatiggaq deposit intersected up to 2.25% U3O8 over 11.1 metres over a 200-metre strike length. The structure hosting uranium mineralization extends for 1.5 kilometres within a highly altered uranium mineralized system.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Copper bars.

Copper Crunch Coming as Demand Rises and Mine Supply Falls Short

Since the advent of electricity, copper has played an essential role in energy generation and transmission. It will be similarly unreplaceable as the world moves away from fossil fuels to more sustainable sources of energy.

Pierre Lassonde, founder and chair emeritus of Franco-Nevada (TSX:FNV,NYSE:FNV), emphasized this during the "Where Will the Money Come From?" panel at the Prospectors & Developers Association of Canada (PDAC) convention.

“Copper is required for everything, and today 80 percent of terminal energy is carbon based and only 20 percent is electricity," he said. "If we want a green world, that has to be flipped around, where 80 percent of terminal energy has to be electricity. And the metal that carries electricity is copper in every which way. That is the key metal."

Keep reading...Show less
Avrupa Minerals CEO Paul Kuhn

Avrupa Minerals CEO Eyes Joint Ventures for VMS Projects in Europe

Avrupa Minerals (TSXV:AVU,OTC Pink:AVPMF,FWB:8AM) has achieved exploration milestones at the fully funded Alvalade copper-zinc volcanogenic massive sulfide project in Portugal and the Slivova gold project in Kosovo. CEO Paul Kuhn is keen to look for potential joint ventures to advance the company's projects.

“The idea is that we start the early phases of the project," he said. "We do the early exploration and hopefully discovery, which we've done at Slivova in Kosovo and the Sesmarias (target) in Portugal, and get them to a point where they are 'venturable.'”

Joint ventures, according to Kuhn, work better by allowing Avrupa and its partners to work together and resolve any problems related to exploration.

Keep reading...Show less
World Copper CEO Gordon Neal

New World Copper CEO Shares Plans to Advance Zonia Copper Project to Production

World Copper’s (TSXV:WCU) newly appointed CEO Gordon Neal wants to focus on advancing the Zonia copper oxide project in Arizona, US, to the development stage and transforming World Copper into a US-centric copper company.

“The US government, the Department of Energy, has determined that copper is a critical metal. And so there’s lots of attention and funds available for companies that have a US-domiciled project,” he said.

World Copper’s Zonia project has undergone extensive historical exploration and mine development planning, with a historical 2018 preliminary economic assessment and 2017 mineral resource estimate that show excellent economics, a mine life of 8.6 years and an average annual production rate of 49.1 million pounds.

Keep reading...Show less
Falcon Gold

Falcon Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×